Sections SEARCH Skip to content Skip to site index Your Money Subscribe Log In Log In Today’s Paper Your Money | Investing in Art Is Risky. Here’s What You Need to Know. Supported by Wealth Matters ByPaul Sullivan Feb. 15, 2019 The value of a Picasso or a Ferrari typically rises in a strong economy, as do shares in a consumer staple like Procter & Gamble. But when the economy sours, those shares may be easier than the other possessions to shed. As wealthy collectors pull back on extravagances, investors could get stuck holding an asset they might have to unload at a loss. In 2012, when the market was roaring for passion assets — those in which you put money where your heart is — I wrote a series of columns on why people invested in things like vineyards, racehorses and sports teams. This time, I will look at five nontraditional asset classes that are popular with wealthy investors and … [Read more...] about Investing in Art Is Risky. Here’s What You Need to Know.
Jean michel basquiat
Sections SEARCH Skip to content Skip to site index Your Money Subscribe Log In Log In Today’s Paper Your Money | When Private Fights Over Millions Become Public (Things Get Ugly) Supported by Wealth Matters ByPaul Sullivan Feb. 8, 2019 There are private family squabbles, and then there are family squabbles that splash into public view, shining a spotlight on a bitter dispute. Take the case of Belinda Neumann-Donnelly, who sued her father, Hubert Neumann, claiming he drove down the price of Jean-Michel Basquiat’s “Flesh and Spirit,” which sold for $30.7 million at auction last May. But Ms. Neumann-Donnelly, representing her mother’s estate, claims that it could have fetched far more, had it not been for her father’s interference. He had sued the auction house, Sotheby’s, to block the sale, an effort that she said had scared off potential buyers. Read Belinda … [Read more...] about When Private Fights Over Millions Become Public (Things Get Ugly)
By Megumi Fujikawa The Wall Street Journal Thu., Feb. 7, 2019 TOKYO—The Japanese CEO who plans to fly around the moon on Elon Musk’s spacecraft has found a way to send his struggling company’s shares skyward: He said he would stop tweeting. Yusaku Maezawa, until now a frequent Twitter user like Mr. Musk, made an announcement on the social-media platform on Thursday. “I will focus on my main business. My challenge continues. I will achieve good results whatever it takes. Please let me take some time off from Twitter,” Mr. Maezawa wrote, concluding with an emoji of a man bowing deeply. The tweet immediately sent shares of Mr. Maezawa’s fashion e-commerce company, Zozo Inc., 7% higher. Still, the shares, which had dropped sharply in the morning, ended the day lower. A Zozo spokeswoman confirmed Mr. Maezawa sent the tweet and declined to comment further. Article Continued Below Last week, Zozo said it expected net profit to … [Read more...] about CEO’s promise to stop tweeting sends his company’s stock higher
British art historian and conservator Pandora Mather-Lees helps billionaire super yacht owners to look after their art collections. Mather-Lees teaches a €295-per-day course ($US337) to help crew members understand the value of the art. In some cases, the art on board is worth more than the yachts. “Now that the rich are increasingly bringing their art collections on board their yachts it’s vital that captains and crew know how to care for these pieces,” she told the Observer. British art historian and conservator Pandora Mather-Lees is an Oxford-educated guide to the super rich, who helps them with the important task of keeping their art safe at sea. Mather-Lees teaches a €295-per-day course ($US337) to help crew members understand the value of the art and how to seek specialist help. In some cases, the art on board is worth several times more than the yachts. In this astounding interview in the Observer, she says: There are superyachts with … [Read more...] about Billionaire yacht owners are desperately seeking advice to protect their priceless art from flying champagne corks and corn-flake stains
By Megumi Fujikawa WSJ Sat., Feb. 2, 2019 TOKYO—The Japanese billionaire who bought the first ticket to fly around the moon on Elon Musk’s SpaceX vehicle is losing momentum back on Earth. The business of selling fashion brands online may not be rocket science, but it is getting trickier for Japanese entrepreneur Yusaku Maezawa after years of rapid growth for his site, with big brands backing away and competition from the likes of Amazon.com Inc. rising. Zozo Inc. made it to the top of Japan’s fashion e-commerce world by offering leading brands on its Zozotown site that previously were available only in elite department stores. But the chief executive, who became globally known when he paid $110.5 million for a Jean-Michel Basquiat painting of a black skull in 2017, acknowledged that his attempts to develop a Zozo house brand of clothing haven’t taken off. The label is expected to lose more than $100 million in the year ending in March. … [Read more...] about Japanese Tycoon Plans to Fly With SpaceX, But His Latest Projects Have Failed to Launch